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Informist, Monday, Aug. 10, 2026

 

By Eshitva Prakash

 

MUMBAI – The options chain of the Nifty 50 index Monday showed heavy selling on expectations of a slow-moving market in the near term. Lack of momentum, coupled with the upcoming weekly expiry on Tuesday, triggered selling of contracts with low extrinsic value. Despite weekly expiry, relatively lower implied volatility on most out-of-the-money contracts suggests the headline index will continue to consolidate Tuesday.

 

Monday, the Nifty 50 ended 0.1% higher at 24583.80 points. Traders await the outcome of the ongoing talks between Iran and Oman, which aim to secure a shipping route through the Strait of Hormuz. Both sides Saturday suggested discussions were progressing, but a timeline on any deal being finalised remained unclear, several media reports said. Abbas Araghchi, foreign minister of Iran, said talks with Oman were in their final stages, but the reopening of the strait remained "subject to other conditions."

 

Additionally, softer-than-expected US jobs data weakened the case for the US Federal Reserve tightening interest rates, instead shifting focus to the upcoming US inflation readings for fresh direction on interest rates and bond yields, Vinod Nair, head of research at Geojit Investments said in a note. "Amid these global crosscurrents, India's robust domestic growth engines and resilient economic fundamentals continue to stand out, providing a strong anchor for investor confidence," Nair added. Several brokerages have noted stronger-than-expected earnings from domestic companies in the June quarter.

 

"There are no meaningful cues in the market that can lend traders the conviction to bet on a particular direction," Rupak De, senior technical analyst at LKP Securities said. He expects the Nifty 50 to face resistance at 24650 points and find support at 24400 level. The analyst expects the weekly contract of the Nifty 50 to expire at 24600 spot level.

 

"Going forward, we continue to maintain our sideways view on the Nifty index as long as it is hovering in the 24400–24730 spot zone," Vipin Kumar, assistant vice president – research, at Globe Capital Markets said. If the Nifty 50 were to cross and sustain above 24730 spot level, it will likely rise to 24850 and higher levels in the near term, the analyst said. A fall below 24400 spot levels will likely drag the headline index back to the 24130–24050 spot levels.

 

Out-of-the-money call contracts with a relatively higher delta came under strong selling pressure. Premiums across 24600–24750 strike prices declined 30–60%. Premiums of further out-of-the-money call contracts were also hit hard before the weekly expiry of Nifty 50 contracts. While call writers overpowered buyers on out-of-the-money call contracts marked for expiry Aug. 18, premiums on several high delta contracts remained expensive. High extrinsic value and decent implied volatility at these strike prices fortified traders' resolve to hold onto these contracts.

 

Traders also sold put contracts across the options chain of the Nifty 50, primarily due to a high theta decay. Premiums on puts across 24500–24350 strikes declined 40–60%. Open interest additions across out-of-the-money put contracts were higher than call contracts, indicating a higher concentration of sellers on the short side.        

 

--Nifty 50 August closed at 24662.00, up 7.00 points; 78.20-point premium to the spot index
--Nifty 50 September closed at 24793.80, up 4.10 points; 210.00-point premium to the spot index
--Nifty 50 October closed at 24921.00, up 1.60 points; 337.20-point premium to the spot index

 

One 97 Communications, Bharat Forge, State Bank of India, BSE, Titan Co., Hitachi Energy India, Power Finance Corp., Multi Commodity Exchange of India, Grasim Industries, and ICICI Bank were the most actively traded underlying stocks Monday.  End

 

Edited by Avishek Dutta

 

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